A better outcome from Brexit negotiations has become more likely as a result of last week’s agreement to move to phase two of talks, Irish Central Bank Deputy Governor Ed Sibley said on Tuesday.

“It’s certainly a welcome development. The probability of a more favourable outcome has most certainly increased as a result,” said Sibley, who had recently warned that a hard Brexit was entirely plausible and that companies need to do more to prepare for an abrupt departure.

“But there are still plausible positive scenarios and plausible negative scenarios. It’s very difficult to know how this will turn out, there are still very significant risks associated with the negotiations and a negative outcome is still very plausible.”
Source: Reuters (Reporting by Padraic Halpin; Editing by Peter Graff)